iA Global Asset Management Inc. Acquires 7,721 Shares of SBA Communications Corporation $SBAC

iA Global Asset Management Inc. grew its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 234.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,020 shares of the technology company’s stock after buying an additional 7,721 shares during the quarter. iA Global Asset Management Inc.’s holdings in SBA Communications were worth $2,131,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in SBAC. Janney Montgomery Scott LLC raised its position in SBA Communications by 0.8% in the second quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock worth $1,440,000 after purchasing an additional 46 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of SBA Communications by 20.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 300 shares of the technology company’s stock valued at $70,000 after purchasing an additional 50 shares during the period. MAI Capital Management raised its holdings in shares of SBA Communications by 7.9% in the 2nd quarter. MAI Capital Management now owns 680 shares of the technology company’s stock worth $160,000 after buying an additional 50 shares in the last quarter. Penserra Capital Management LLC lifted its position in shares of SBA Communications by 12.5% during the 2nd quarter. Penserra Capital Management LLC now owns 587 shares of the technology company’s stock worth $137,000 after buying an additional 65 shares during the period. Finally, CVA Family Office LLC boosted its stake in SBA Communications by 106.3% in the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after buying an additional 67 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Trading Up 1.0%

SBAC opened at $187.16 on Friday. SBA Communications Corporation has a 1-year low of $179.89 and a 1-year high of $245.16. The stock has a market capitalization of $19.94 billion, a PE ratio of 24.40, a PEG ratio of 1.76 and a beta of 0.87. The firm has a 50-day moving average price of $190.83 and a two-hundred day moving average price of $201.63.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.21 by $0.09. The business had revenue of $732.33 million for the quarter, compared to analysts’ expectations of $715.65 million. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. SBA Communications’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.32 earnings per share. On average, research analysts predict that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th were paid a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, November 13th. SBA Communications’s dividend payout ratio (DPR) is 57.89%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SBAC. UBS Group dropped their price objective on SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday. BMO Capital Markets cut their price target on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. Barclays decreased their price objective on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research note on Monday, December 1st. Wells Fargo & Company dropped their price objective on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating for the company in a report on Tuesday, December 16th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.18.

SBA Communications Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.